The John Corporation suffers a $22,000 net loss from operations for the current year but receives $150,000 in dividend income from corporations in which it owns 50 percent of the sTock.

Dividends-Received Deduction (LO. 1) The John Corporation suffers a $22,000 net loss from operations for the current year but receives $150,000 in dividend income from corporations in which it owns 50 percent of the stock. Refer to Table 14-1 to answer the following questions. The dividends received deduction is $ X and the corporation's actual taxable income for the current year is $ X. Table 14-1 Dividends-Received Deduction Rates Percent Ownership Deduction Percentage